Payments behemoth Western Union is partnering with Anchorage Digital Bank, the first federally regulated crypto bank in the US, to launch USDPT (U.S. Dollar Payment Token), a stablecoin designed to bring faster and cheaper payments to its massive global network. This collaboration represents a significant step toward mainstream stablecoin adoption, merging regulated digital finance with Western Union’s physical footprint of over 550,000 agent locations across more than 150 countries.
The new stablecoin will operate on Solana’s high-performance blockchain, leveraging its scalable infrastructure, high throughput, and low cost—features critical for global payment applications. Anchorage Digital Bank, as the federally regulated issuer, will mint and redeem the USDPT under US federal oversight, ensuring the highest standards of compliance.
Compliance and reach for global payments
The partnership is built upon the critical foundation of regulatory compliance, positioning the stablecoin for broad institutional use. Anchorage Digital’s platform will provide secure issuance, custody, settlement, and treasury management for the digital asset, all under one federally regulated platform.
Nathan McCauley, co-founder and chief executive officer of Anchorage Digital, said the union of capabilities demonstrates a path forward for the future of money movement. “By combining forces with Western Union and building on Solana, we’re demonstrating how regulated stablecoins can power faster, cheaper, and more inclusive payments globally,” McCauley commented, adding that the partnership shows that innovation and compliance can go hand in hand.
The stablecoin is integrated into Western Union’s extensive network, allowing the benefits of digital dollars to reach virtually every corner of the globe.
Devin McGranahan, chief executive officer of Western Union, stated that the partnership allows the firm to take a meaningful step toward faster, more efficient, and more inclusive payments for their customers.
Solana underscores blockchain’s role
The choice of Solana’s scalable blockchain infrastructure for USDPT highlights the network’s maturity in serving institutional-grade, high-volume applications.
Sheraz Shere, head of payments at Solana, reinforced the strategic significance of the integration. “The launch of USDPT demonstrates how high-performance blockchain technology and regulatory compliance can work hand in hand to transform global payments,” Shere said. He added that the decision by Western Union and Anchorage Digital to build on Solana underscores that the future of regulated, efficient, and borderless money movement will be powered by open, high-performance networks.
By combining Anchorage Digital Bank’s federally regulated issuance, Solana’s high-speed blockchain, and Western Union’s unparalleled global reach, this initiative sets a new standard for the secure and inclusive movement of digital value.
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